A settlement was reached in the lawsuit filed on behalf of certain investors St Jude Medical Inc (NYSE: STJ) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on August 30, 2015 and NYSE: STJ investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/06/2015 -- A deadline is coming up on August 30, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of St Jude Medical Inc (NYSE: STJ) between April 22, 2009 and October 6, 2009.
Investors who purchased a significant amount of shares of St Jude Medical Inc (NYSE: STJ) between April 22, 2009 and October 6, 2009, have certain options and you should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the St Jude Medical Inc (NYSE: STJ) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/st-jude-medical-inc-nyse-stj-investor-securities-class-action-lawsuit-03182010
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is August 30, 2015. The class action administrator for this case is Gilardi & Co LLC.
The lawsuit was originally filed in the U.S. District Court for the District of Minnesota against St Jude Medical Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 22, 2009 and October 6, 2009. According to the complaint the plaintiff alleges that St Jude Medical Inc and certain of its officers and executives violated the Securities Exchange Act of 1934 by failing to disclose between April 22, 2009 and October 6, 2009, material adverse facts about St Jude Medical Inc's true financial condition, business and prospects. Then on October 6, 2009, St Jude Medical Inc issued a press release announcing "preliminary third quarter results," for the period ending October 3, 2009. The press release reported that St Jude Medical Inc was reducing its earnings guidance for the completed third quarter. In response to this announcement, the price of St Jude Medical Inc common stock (NYSE: STJ) declined from $38.24 per share to $33.40 per share on extremely heavy trading volume. Shares of St Jude Medical Inc traded recently at $39.41 per share, down from its 52 week High of $41.96 per share, $47.97 per share in August 2008, and over $53 per share in 2006.
St Jude Medical Inc, located in St. Paul, MN, develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management, cardiology and cardiac surgery and atrial fibrillation therapy areas and implantable neurostimulation devices for the management of chronic pain. St Jude Medical Inc operates in four business segments: Cardiac Rhythm Management (CRM), Cardiovascular, Atrial Fibrillation and Neuromodulation Systems.
Those who purchased shares of St Jude Medical Inc (NYSE: STJ) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com